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Updated over 5 years ago on . Most recent reply

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2
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Jonathan West
  • Aiken, SC
0
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2
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Is this Multi Home Deal Solid?

Jonathan West
  • Aiken, SC
Posted

All: I have a landlord in my area that is interested in selling their properties.  I have the option to purchase them individually or all together.  They are D class homes but have long rental history.  They all need some work done to them, but I don't see anything significant at the moment.  I believe that I can raise the rents by $50 per unit after adding a little TLC to them.  This seems to be a good purchase overall, but I am still learning how to analyze deals. 

 Please let me know you thoughts.  Is this a good overall deal or should I only purchase the best ones?  Seller is open to seller financing.  

Address Price Monthly Rent Annual Taxes Percentage Rule:
Property #1 (7 Units total; Combined rent is $1970) $90,000 $1,970 $2,200 0.021888889
Property #2 $25,000 $240 $650 0.0096
Property #3 $35,000 $325 $732 0.009285714
Property #4 $28,000 $400 $725 0.014285714
Property #5 $38,000 $400 $805 0.010526316
Property #6 $45,000 $400 $877 0.008888889
Property #7 $30,000 $375 $777 0.0125
Property #8 (needs work and not rented, but going monthly rate is $400) $15,000 $0 $344 0

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